Q2FY19 USD revenue declined by 4.3% QoQ/flat YoY led by decline in IPled revenue (-10% QoQ) and services revenue (-2% QoQ). EBITDA Margins improved by 200bps QoQ/40bps YoY largely driven by INR depreciation and higher offshoring. Better business mix, improvement in utilisation, higher IP deals & higher onsite utilisation would drive PSYS' profit margins going forward....